The Goodson Blogson

Earlier this week, the White House announced a new 10% tariff on most imports into the United States to begin on Saturday, as well as country-specific additional duties. ( CNN breaks down the countries impacted by specific tariffs.) President Trump cited the International Emergency Economic Powers Act (IEEPA) and the National Emergencies Act (NEA) in declaring a "lack of reciprocity in our bilateral trade relationships" a national emergency warranting the unprecedented move. The Congressional Research Service provides historical background on the closest analogue, Richard Nixon’s 1971 emergency tariff, in its recent report . CRS notes that Congress has the power to terminate the national emergency through a joint resolution of disapproval, or to amend the law cited by President Trump to limit its role in imposing tariffs. The tariff announcement provoked the largest one-day decline in the stock market since the early days of the COVID-19 pandemic in 2020. Markets have co...

Last week, the talk of the Internet was an essay called "The Day I Put $50,000 in a Shoe Box and Handed It to a Stranger." The Cut's financial-advice columnist Charlotte Cowles details the elaborate telephone scam that led her to withdraw five figures of savings and surrender the cash to someone she believed to be an undercover CIA agent. Social media chatter debated whether Cowles's predicament was the relatable reaction of a frazzled mom who had been targeted by experienced con artists, or the public admission of a surprising lapse in common sense. However one may feel about Cowles's particular experience, one thing is certain: she is hardly alone in falling for a scam. Earlier this month, the Federal Trade Commission estimated that American consumers lost more than $10 billion to fraud in 2023 . While almost half of these losses came from investment fraud, imposter scams (like the one Cowles faced) represented nearly $3 billion of this figure. The FTC news r...

Last year, as the coronavirus pandemic ramped up in mid-March, the Internal Revenue Service announced an unprecedented across-the-board extension to federal tax filings. This year, alas, the IRS has already announced that they expect to retain the traditional April 15 deadline . [ Update 3/19 : The IRS announced a one-month federal deadline extension to May 17 earlier this week; states may or may not grant similar extensions.]  Between the narrower filing window and the delivery delays that continue to plague the U.S. Postal Service, taxpayers will want to get their filings in order as quickly as possible, and consider electronic filing in order to expedite the processing of returns and refunds. (It's possible to request an Extension of Time to File Your Tax Return , but note that this does not grant an extension for time to pay estimated taxes owed.) Taxpayers whose income was at or below $72,000 in 2020 may qualify for the IRS Free File service , which offers online tax prepar...

Yesterday, Treasury Secretary Steven Mnuchin announced a 90-day extension of federal income tax payments for 2019, due to the global coronavirus pandemic ( story at CNN ). Despite the extension of time to pay federal taxes owed, Mnuchin recommended that taxpayers still attempt to complete and file their 2019 returns by the normal April 15 deadline. [ UPDATE 3/20 : The deadline to file has now been extended to July 15 as well, per an updated announcement by Secretary Mnuchin .] (The extension also does not apply to states, which must set their own deadline extensions for tax filing; California has already changed its payment and filing deadline to June 15.) Taxpayers whose income was at or below $69,000 in 2019 may qualify for the IRS Free File service, which offers online tax preparation assistance and free e-filing for federal taxes. The Free File Online Lookup Tool helps taxpayers identify available free online filing offers that are appropriate for their tax situation. If y...

The Goodson Law Library has added the International module to its Tax Analysts subscription ( featured in the Goodson Blogson last December ). This new module includes full-text access to the Tax Notes International magazine (browseable to 2001, and searchable back to 1989) and the daily news publication, Tax Notes Today International (browseable to 1999). Use of the Tax Analysts platform requires a username and password. Current members of the Duke University community may register with their duke.edu email address for access. To access the international materials, log in to Tax Analysts . The red "International" link in the top right corner will show the Tax Notes Today International home page; a link to the Tax Notes International magazine can be found by scrolling down to the "Magazines" section of the Tax Analysts home page. The orange "Subscriptions" drop-down menu in the top right corner will link to both international publications as well. Fo...

The Goodson Law Library recently subscribed to the Federal Portfolio of Tax Analysts , a leading source for tax-related news and commentary. Current members of the Duke University community may register a username and password with their Duke.edu email address to obtain access. Available publications include Tax Notes , Tax Notes Today , FATCA Expert , Exempt Organizations Expert , and Tax Practice Expert . Duke's subscription also includes access to the Federal Research Library tool, containing IRS documents, regulations and legislation. For quick access to research materials, use the Key Documents menu at the top of the screen. The Tax Topics menu allows quick access to stories on a particular subject. Tax Analyst publications were previously available to the Law community in Lexis Advance and the campus community in Nexis Uni . Although these publications are currently still available full-text within Lexis research platforms, Tax Analyst titles will be removed from Lexi...

The start of summer always brings changes to the Law Library – most notably, access and service desk hours (now weekdays 8:00 am – 5:00 pm until the start of fall classes in August). But some important additional changes are taking place this summer, with accompanying moves to library collections and equipment. The library's former Document Production Room on level 3 will be transformed into a new classroom and meeting space this summer. As a result, ePrint station 3A has moved to the end of the library service desk, along with one overhead scanner. The other overhead scanner, and color printer/photocopier device have moved to the Microforms Room on Level 1, where additional ePrint stations and a Lexis printer are already available. The document feed scanner/outbound fax device is temporarily located outside of the library entrance, next to printer 3C (it is expected to move back into the library Reading Room later this summer). Changes are also coming to the four library al...

With just over a month left until tax day (Tuesday, April 17), it's time to get serious about completing 2017 federal and state tax returns. Although the Goodson Law Library staff cannot answer substantive tax-related questions (such as "what forms do I need to file?" or help with interpreting the form instructions), the Goodson Blogson can recommend some starting places for finding tax information and assistance . The Tax Cuts and Jobs Act ( Public Law No. 115-97 ) passed by Congress in late December 2017 marked the first major reform of federal tax law since 1986. Although many of its provisions do not take effect until it is time to file taxes for 2018 or later, some portions of the new law do affect 2017 filings. The Internal Revenue Service Tax Reform page links to news releases and updates related to the new law. (If you're already thinking ahead to next year’s taxes, an interactive Withholding Calculator can help you determine if recent tax law changes sh...

The Goodson Law Library's research guide to Federal Tax law has recently been updated. Tax is a complex area of the law, with frequent changes and unique sources. For new researchers, it may be beneficial to begin with one of the research guidebooks listed in section VI, such as the BNA Tax Management Portfolio Legal Authorities in U.S. Federal Tax Matters - Research and Interpretation (online in Bloomberg BNA & Bloomberg Law ), for more guidance about specific sources and their authoritative weight. Although the legal research services Westlaw, Lexis Advance, and Bloomberg Law contain valuable tax research primary and secondary sources, specialized resources like Thomson Reuters Checkpoint   are commonly used by tax practitioners. Checkpoint contains Federal Tax Coordinator 2d and United States Tax Reporter , both of which provide detailed guidance on all aspects of federal tax practice. Checkpoint also includes Citator 2nd , which connects researchers to subsequent case...

The end of the calendar year often sees an increase in solicitations from non-profit organizations. Whether you feel compelled to give back or are just calculating charitable deductions for next year's tax return, it's helpful to research tax-exempt organizations to learn more about where your dollars are being spent, and to avoid sending money to fraudulent organizations. The Internal Revenue Service's Exempt Organization Select Check provides quick information about particular non-profit organizations, and the general deductibility level of contributions. For more detailed financial data regarding tax-exempt organizations, the best source is the annual Form 990 filed with the IRS. Form 990 archives are available through a number of sources: Duke University community members have access to GuideStar , a leading source of reliable nonprofit information and backfiles of Form 990. Charity Navigator is another option to review ratings of charitable organizations, incl...

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled , That the Secretary of the Treasury is hereby directed to cause the immediate destruction of all income-tax returns and any copies thereof, with all statements and records relative thereto , now in possession of the Treasury Department, by reason of "An Act to reduce taxation," and so forth, in effect August twenty-eighth, eighteen hundred and ninety-four. On this day in 1896, Congress approved House Joint Resolution No. 42 , providing for the immediate destruction of income tax returns and records that the Treasury had received. In his 1897 annual report , the Secretary of the Treasury confirmed that the office had delivered all income tax returns and other documents to a specially-appointed committee, which "totally destroyed the same by burning." As April 15 approaches (see our earlier post for help with locating free or low-cost filing assistance ), it...

If you drive a car, I'll tax the street If you try to sit, I'll tax your seat If you get too cold, I'll tax the heat If you take a walk, I'll tax your feet --The Beatles, Taxman, on Revolver (1966) With just a month left until tax day ( Wednesday, April 15 ), it's time to get serious about completing 2014 federal and state tax returns. This is the first year in which all Americans are required to maintain health insurance under the 2010 Affordable Care Act (see TurboTax overview of the most recent changes ), and your once-familiar tax forms may look a bit different as a result. Although the Goodson Law Library staff cannot answer substantive tax-related questions (such as "what forms do I need to file?" or help with interpreting the form instructions), the Goodson Blogson can recommend some starting places for finding tax assistance .  Before you pay for a professional tax preparation service, consider whether you qualify for the IRS Free File progra...

It may not be obvious from their name, but non-profit (often interchangeably called tax-exempt ) organizations may actually deal with vast sums of money. In exchange for special tax treatment, exempt organizations in the United States are required to file special reports with the Internal Revenue Service. These annual Form 990s provide detailed descriptions of the organization's operations, including governance structure and compensation of employees. Form 990 can be a useful tool for evaluating how donations to a charitable organization will likely end up being distributed. The subscription service GuideStar (available to the Duke University community with a current NetID and password) and free websites like Charity Navigator (selected features available without free registration) use this data to assess the financial health of a nonprofit organization, and sometimes even provide a rating system for consumers. (For example, Duke University receives 3 stars out of a possible...

Today marks two months ‘til tax time! Just like last year , the traditional April 15 federal income tax deadline falls on a weekend, and April 16 is an official holiday in the District of Columbia (Emancipation Day). So chronic procrastinators have an extra-long weekend to prepare and file their federal taxes before Tuesday, April 17 – and many states, including North Carolina , are also following the federal government’s lead in order to avoid deadline confusion. But even with the extra few days, you can certainly get started on your tax preparation now. Although the Goodson Law Library staff cannot answer substantive tax-related questions (such as “what forms do I need to file?” or help with interpreting the form instructions), the Goodson Blogson can recommend some starting places for finding assistance . Before you pay for a professional tax preparation service, consider whether you qualify for the IRS FreeFile program . This service links qualifying taxpayers to free electronic f...

December can be full of unexpected surprises – a holiday card from a long-lost friend, a sudden snow day from work or school, or a fabulous gift from your wish list . But for a quick moment of pure unmitigated cheer, a seasonal favorite has to be pulling out your heavy coat in anticipation of another dreary winter, and finding some long-forgotten cash in the pocket. But wouldn’t it be even better if that crumpled-up $20 bill was a check for $1,500? The Internal Revenue Service recently announced that more than $150 million in federal tax refunds have gone undelivered this year , usually due to outdated mailing addresses. If you’re one of the 99,123 taxpayers who is still waiting for a refund check, visit the IRS status lookup page Where’s My Refund? You’ll need to provide your Social Security Number, filing status and the exact amount of the refund. With the average unclaimed refund totaling $1,547, the site is certainly worth a visit. The IRS isn’t the only place which may be holdin...

If you’re like most people, you probably have your W-2s and other financial paperwork in a stack at home, but that’s as far as you’ve gotten on your income tax preparation. In fact, the Internal Revenue Service has even requested that some people not file their 2010 returns until mid-February , so its processors have time to prepare for changes made by 2010’s tax law overhaul. It looks like 2011 will be an especially good year for tax procrastinators: the little-known Washington, D.C. holiday of Emancipation Day ( CNN story ) will be observed on the usual tax deadline of April 15, pushing back the dreaded day an extra weekend to Monday, April 18 instead. However, most taxpayers can file 2010 returns as soon as they are ready, and just need to find the time and energy to tackle their taxes. Although the Goodson Law Library staff is not able to answer substantive tax-related questions (such as “what forms do I need to file?” or help with interpreting the form instructions), the Goods...

It's been hard to ignore the last few weeks of debate about the massive tax legislation working its way through Congress. A controversial “compromise” plan, engineered in part by the White House, passed the U.S. House of Representatives close to midnight on Thursday, December 16 . Just a few hours later, the major tax research databases were announcing the publication of updated commentary and analysis of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act (H.R. 4853 – THOMAS bill summary and text ). Researchers at Duke Law have access to three premium tax resources: BNA’s Tax and Accounting Center, CCH IntelliConnect, and RIA Checkpoint. Since research in these services can be overwhelming to novice users, here are detailed roadmaps to their expert commentaries on the new tax law. BNA Tax and Accounting Center : Follow the path Federal Tax > Tax Legislation > BNA Analysis of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Ac...

After years of maintaining nearly 400 different Tax Management Portfolio titles in print , the Goodson Law Library now has electronic access to the full text of the Tax Management Portfolios through BNA’s Tax and Accounting Libraries . These slim spiral-bound Portfolios are heavily used by tax professionals, who rely on the news, commentary and analysis within to keep current with changes in tax law. A list on BNA’s site describes the various titles available in the five portfolio series (Accounting; U.S. income tax; Estates, Gifts, and Trusts, Foreign Income and State tax). To browse or search the portfolios online, visit the BNA Publications database , which is available on the library’s Legal Databases & Links page . Our research guide to Federal Tax has been updated to add the new database, and the remainder of the guide will be updated in the weeks to come. The print portfolios, currently housed in the library’s Gann Tax Alcove, will shortly be moved to reflect the fact that...

Did you ignore us back in February when we pointed you to sources for income tax help ? Now there’s only a week left to finish your federal and NC income tax returns! Taxes are never convenient, but maybe you could really use more time to file. Fortunately, automatic extensions are available, and just a little bit of paperwork up front could buy you six extra months to file. Check these links for more information: Federal : http://www.irs.gov/taxtopics/tc304.html North Carolina : http://www.dornc.com/taxes/individual/extension.html Other states : Visit your state’s Department of Revenue, linked from the IRS website at http://www.irs.gov/businesses/small/article/0,,id=99021,00.html Please note that in all cases, an extension of time to file does NOT equal an extension of time to pay taxes owed! You’ll need to submit at least a preliminary payment for what you estimate is owed, along with your request for an extension. Failure to pay at least the estimated tax could result in penalties...

With less than two months to go before April 15, income taxes are in the back of everybody’s mind. While the Goodson Law Library staff is not able to answer substantive tax-related questions (such as “what forms do I need to file?” or help interpreting the form instructions), the Goodson Blogson is happy to point you to some sources for tax assistance. Before you head to a professional tax preparation service, consider whether you qualify for the IRS’s FreeFile program . This service links qualifying taxpayers to free electronic federal tax preparation service (state tax preparation may also be available in some cases). Your adjusted gross income for 2009 must be $57,000 or less in order to take advantage of the FreeFile program. You may also qualify for assistance from VITA (Volunteer Income Tax Assistance) , a program in which trained volunteers assist with tax preparation for low- to moderate-income taxpayers, as well as senior citizens. Duke Law School proudly boasts a VITA chapter...